HCC's share in the JV is 75 percent (i.e. Rs 367 crore) and the work is expected to be completed in three years, company said.
Hindustan Construction Company share price gained 6.4 percent intraday on January 7 after its joint venture company received Delhi Metro order.
The stock rallied 30 percent in the last three months. It was quoting Rs 10.42, up Rs 0.30, or 2.96 percent on the BSE at 13:37 hours IST.
"A joint venture of Hindustan Construction Company (HCC) and VCCL received a contract worth Rs 489 crore from Delhi Metro Rail Corporation (DMRC) under Phase IV of the Delhi Metro project," the company said in its BSE filing.
HCC's share in the JV is 75 percent (i.e. Rs 367 crore) and the work is expected to be completed in three years, it added.
The company said the contract was for design and construction of 2.03 km long twin tunnels on the Janakpuri West to R K Ashram corridor (extension of Line 8) of Phase IV. The contract also includes the construction of an underground station, namely Krishna Park Extension, it added.HCC had completed the 1.54 km long CC66 package of DMRC on Dwarka-Najafgarh Corridor in October 2019, which was the sixth DMRC contract successfully completed by the company.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.